In 2023, the value of corporate gifts globally was estimated at $242 billion. That figure is expected to grow and reach $306 billion in 2024. These numbers are quite impressive and reinforce the perceived value and importance of gifting. There are many benefits of corporate gifting. So much so that a lack of generosity may be a big mistake for a growing business. Employee corporate gifts are a major piece of the budget to support employee retention, brand loyalty, engagement, appreciation, and more.
The power of gifting can be used to strengthen a team, build relationships, outfit your staff with necessary tools, increase brand visibility, or reach that high-value prospective client. Research found that 52% of gift recipients would like to do business with the gifting company after receiving a corporate gift. It makes sense. Building on the law of reciprocity, it is natural to develop fond feelings for charitable individuals and organizations.
This article will highlight just some of the many reasons why you need to expand your gifting budget for the benefit of your business.
Check out how custom corporate gifts can help you reach your business goals
1. Design a feasible marketing strategy
Winning marketing strategies typically include custom merchandise as free giveaways, employee corporate gifts, and new client or collaborator handouts. Utilizing swag can get your name out into the world and win over the hearts of your target audience. The efficacy of this strategy is no secret. 68% of businesses say that brand awareness is their priority with corporate gifts. Reach out to Social Imprints for expert guidance on how to achieve your marketing objectives with class.
2. Make company merchandise accessible
One of the best ways to give corporate gifts to employees is with an online company store. Having a corporate store is part of the evolution or growth trajectory of every thriving business. It’s in the best interest of your brand for swag and custom merchandise to be available to the masses.
Online company stores can help your business save money and increase revenue. By setting up your store, you enjoy these perks!
- Boosting company culture and community
- Consolidate purchasing
- Have a tighter budget and purchasing records
- Be prepared for gifting at any occasion
- Expanding your purchasing audience
- Maximizing the efficiency of processing orders
- Increasing the quantity and accessibility of promotional products
- Expanding brand reach and visibility
- Increasing brand loyalty
For more information on why online stores are so beneficial, check out Expanding Your Brand: The Role of Online Swag Stores in Business Growth
3. Make it portable to boost brand visibility
Utilizing corporate gifts for employees that can be taken on the go, anywhere in the world, is strategic. You want to have as many eyes on your company merchandise as possible. Think about bags, purses, backpacks, luggage, portable chairs, jackets, sweatshirts, t-shirts, travel mugs and tumblers, water bottles, etc. If it can be taken on a trip easily, that is ideal. Increasing brand visibility is one of the best features of custom swag. Cash in on outfitting your entire staff with high-quality and sustainable company merchandise for eco-friendly corporate gifts. Budgeting adequate funds for gifting will boost any marketing strategy.
4. Target your audience for brand loyalty
Be strategic about who your target audience is. Make it easy for them to gain access to your custom swag. Be sure to think bigger and include your target audience’s family and friends. Research showed that 76% of employees preferred gifts they could share with family or friends. That means you might want to add a kids’ section to your online company store. Utilize the whole family as your walking advertisement. The cuter the better!
5. Always choose eco-friendly corporate gifts
In 2024, the world is environmentally conscious. Always go with sustainable merch to make the best impression. Your brand will be associated with every branded product so don’t make the mistake of cutting corners by going with the junkier option. Social Imprints can help you find that sweet spot in terms of balancing quality with the budget sheet. Eco-friendly corporate gifts are always going to be the best way to go.
6. Have high-quality custom merchandise
Speaking of sustainable, that usually means products are also high-quality. The last thing you want is for your company merchandise to be in hand for one moment and in the trash the next. It happens! Don’t let your precious funds be wasted by choosing items that will break, fall apart, or just be a little too junky to be enjoyed. Let Social Imprints guide your purchasing decisions to be the best option to fit your needs.
7. Be practical with custom corporate gifts
As always, be practical! If the gifts are for a conference or tradeshow, be sure that they are small enough to fit easily in a carry-on suitcase. If there is a theme at the event, make it fit right in and shine. Usually, smaller items are great for travel and for your target audience to hold onto them for the long run.
Keep your team happy and thriving with employee corporate gifts!
In conclusion, these are just a few pointers to utilize employee corporate gifts and prospective client giveaways to get your brand out into the world. There is a thriving market for corporate gifts, and make sure that your company is keeping up with the competition. Achieving brand loyalty where it counts is easier than you think! Reach out to Social Imprints for some help and reassurance that you will get there!
To learn more about the benefits of corporate gifting, reach out to bizdev@socialimprints.com, and one of our product specialists will be in touch!